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March 13, 2023
Question

Fixed Asset Manager Depreciation discrepency

  • March 13, 2023
  • 0 replies
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Quickbooks 2015 Desktop

Have a new asset purchased 4/23/22 for $200.Set up for MACRS straight line 5 year half-year convention. Federal, AMT, and ACE are showing current depreciation at $20, but accumulated depreciation is $36.67. They should be the same for the first year of depreciation. Book, State, and Other show the proper $20 for each. Current End of Year is 12/31/2022.

Another asset acquired 7/22/2022 has current depreciation at $69.46 and accumulated depreciation at $127.34.

 

What gives?